blue ribbon

a blue ribbon worn as a badge of honor, especially by members of the Order of the Garter of the British knighthood.

3.

(initial capital letters). Also, British, Blue Ribband. (formerly) a prize awarded to an ocean liner making the fastest recorded trip across the Atlantic Ocean between Ambrose Lightship and Bishop Rock.

4.

a badge used by some temperance organizations to indicate a pledge of abstinence from alcohol.